(News Bulletin 247) – AB InBev was among the most traded stocks on the BEL 20 index on Wednesday following encouraging comments from Deutsche Bank analysts.
In a note published in the morning, the research department welcomes the trend towards improvement in the United States of sales figures for Bud Light, a beer brand that has long been boycotted following the launch of a campaign advertising deemed controversial.
According to Deutsche Bank, the percentage of beer buyers shunning the brand fell from 21% in July to 19% in August, an improvement that is not just a bout of volatility given the evolution of the figures. in recent months, says the research firm.
“What’s more, the percentage of former Bud Light consumers who no longer plan to buy the brand in the next three to six months has dropped from 18% to just 3%,” the analysts point out.
Deutsche Bank, which displays a buy recommendation and a price target of 35 euros on the stock, estimates that the latter has a depressed valuation with a PER 2024 of 15.3x, i.e. a discount of 28% compared to the sector, which he believes offers upside potential from its current levels.
Shortly before 4:00 p.m., the stock was down 0.3%, a slight outperformance compared to a BEL 20 index down 0.6%.
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